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    Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI monetary policy decision
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    August 5, 2026
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    Foreign exchange market movement strengthens as lower crude prices and monetary policy signals influence the rupee's direction.
    Foreign exchange market movement saw the rupee appreciate against the US dollar in early trading, supported by lower crude oil prices, a softer dollar index, domestic equity gains and net foreign institutional investment. Market attention centred on the Reserve Bank of India's monetary policy decision, with expectations of an unchanged benchmark repo rate. Policy communication on inflation and developments in Hormuz-related talks were identified as factors that could influence the rupee's direction.
    August 4, 2026
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    Dearness allowance arrears must be cleared promptly, while the government examines legal remedies and continues its structured liquidation plan.
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    August 4, 2026
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    August 4, 2026
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    Rupee exchange-rate movement gains support from capital inflows, while oil prices, dollar strength and monetary policy shape sentiment.
    Rupee exchange-rate movement was supported by foreign capital inflows and improved global risk sentiment, while elevated crude-oil prices and a stronger US dollar constrained gains. Market attention shifted to monetary policy, overseas dollar-deposit incentives and easier foreign access to government bonds, which were reported to support capital inflows and India's external position. A cautious approach to the benchmark repo rate was expected amid assessment of the West Asia conflict.
    August 4, 2026
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    Interim bilateral trade agreement negotiations continue as both sides work to finalise unresolved issues in the proposed arrangement.
    Interim bilateral trade agreement negotiations between India and the United States are continuing. Both sides have undertaken substantial work, while certain issues remain to be finalised before completion of the proposed interim trade arrangement. A United States Trade Representative delegation visited India to advance discussions. The text records the status of negotiations and identifies no concluded agreement or operative customs measure.
    August 4, 2026
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    Fuel-price volatility mitigation will combine fiscal measures, consumer protection, energy security and fiscal sustainability during external energy shocks.
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    August 4, 2026
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    Tax policy certainty reforms propose easier fund management, data-centre access, electronics incentives and revised electronic-payment charging rules.
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    Broad-based growth strategy links tax reforms, trade resilience, industrial support and services development to medium-term economic expansion.
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    Co-operative bank governance and financial disclosure support digital transformation, risk management, priority-sector lending and sustainable member-focused growth.
    Co-operative bank governance and financial disclosure were addressed at the annual general meeting, where the member-notice agenda was transacted and audited financial statements were presented. The bank reported growth in business, deposits and advances, together with net profit, asset quality, provisioning coverage and capital adequacy indicators. Its operational priorities include digital transformation, risk management, selective network expansion, customer service and operational discipline. Future priorities include retail and priority-sector lending, MSMEs, affordable housing and institutional deposits.
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    Nine pending WTO disputes against India concern safeguard measures, sugar support and export schemes, information and communications technology tariffs, and technology-sector incentives. India contests the claims as consistent with its WTO rights and obligations. Appeals concerning iron and steel safeguards, sugar measures, and certain information and communications technology tariff reports remain pending, including because the WTO Appellate Body is non-functional. Other proceedings concern Chinese challenges to production-linked incentives, tariffs, and solar, automotive, renewable-energy and information-technology measures; one panel proceeding is ongoing and another panel has not been constituted.
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    August 4, 2026
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    Foreign-exchange market conditions supported a modest early rupee gain, while importer demand and policy data remained key factors.
    Foreign-exchange market conditions supported a marginal early appreciation of the rupee against the US dollar, led by broad US-dollar weakness, improved risk sentiment, lower oil-price levels and foreign portfolio inflows. Importer demand for dollars moderated the movement. Market direction remained linked to the forthcoming monetary-policy decision and US economic data, while reported central-bank activity was described as helping smooth currency volatility. The US dollar index, crude-oil movements, global supply expectations and domestic equity-market activity were relevant exchange-rate influences.
    August 4, 2026
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    Quality statistics drive statistical-system reform through administrative data, interoperable systems, stronger governance, and international cooperation for evidence-based policymaking.
    Quality statistics are advanced through modernised national statistical systems, administrative data, digital public infrastructure, and stronger data-governance and privacy standards. Cooperation among national statistical offices is intended to address data gaps through knowledge sharing, methodological harmonisation and statistical innovation. Discussions also emphasised digital dissemination, transformational statistical reforms, and the use of administrative data for timely, cost-effective and granular official statistics, supported by harmonised metadata, interoperable systems and institutional collaboration.
    August 4, 2026
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    Digital statistical modernisation strengthens survey quality, macroeconomic indicators, international standards alignment and infrastructure performance monitoring through standardised data systems.
    National statistical modernisation uses digital survey platforms with validation checks, AI-enabled support and multilingual interfaces, alongside short-duration surveys and administrative data to improve sampling and timely official statistics. Reforms include base revisions for Gross Domestic Product, Consumer Price Index and Index of Industrial Production; adoption of metadata, quality-assessment and classification standards; and alignment with international statistical principles and methodologies. Sustainable development indicators and infrastructure monitoring are supported through a national indicator framework, PAIMANA and a standardised performance dashboard.

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      NATO leaders gather Tuesday for what could be historic summit, or one marred by divisions

      June 23, 2025

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      The Hague (Netherlands), Jun 23 (AP) US President Donald Trump and his NATO counterparts are due to gather Tuesday for a summit that could unite the world's biggest security organisation around a new defence spending pledge or widen divisions among the 32 allies.

      Just a week ago, things had seemed rosy. NATO Secretary-General Mark Rutte was optimistic the European members and Canada would commit to invest at least as much of their economic growth on defence as the United States does for the first time.

      Then Spain rejected the new NATO target for each country to spend 5% of its gross domestic product on defence needs, calling it “unreasonable.” Trump also insists on that figure. The alliance operates on a consensus that requires the backing of all 32 members.

      The following day, Trump said the US should not have to respect the goal.

      “I don't think we should, but I think they should,” he said. Trump lashed out at Prime Minister Pedro Sánchez's government, saying: “NATO is going to have to deal with Spain. Spain's been a very low payer." He also criticised Canada as “a low payer.” Spain was the lowest spender in the alliance last year, directing less than 2% of its GDP on defence expenditure, while Canada was spending 1.45%, according to NATO figures.

      Then Trump ordered the bombing of nuclear installations in Iran. In 2003, the US-led war on Iraq deeply divided NATO, as France and Germany led opposition to the attack, while Britain and Spain joined the coalition.

      European allies and Canada also want Ukraine to be at the top of the summit agenda, but they are wary that Trump might not want President Volodymyr Zelenskyy to steal the limelight.

      A short summit, decades of mutual security The two-day summit in The Hague involves an informal dinner Tuesday and one working session Wednesday morning. A very short summit statement has been drafted to ensure the meeting is not derailed by fights over details and wording.

      Indeed, much about this NATO summit is brief, even though ripples could be felt for years.

      Founded in 1949, the North Atlantic Treaty Organisation was formed by 12 nations to counter the threat to security in Europe posed by the Soviet Union during the Cold War, notably via a strong U.S. presence on the continent.

      Dealing with Moscow is in its DNA. Keeping the peace outside the Euro-Atlantic area is not.

      NATO's ranks have grown to 32 countries since the Washington Treaty was signed 75 years ago. Sweden joined last year, worried by an increasingly aggressive Russia.

      NATO's collective security guarantee — Article 5 of the treaty — underpins its credibility.

      It's a political commitment by all countries to come to the aid of any member whose sovereignty or territory might be under attack. Trump has suggested he is committed to that pledge, but he has also sowed doubt about his intentions. He has said the U.S. intends to remain a member of the alliance.

      A civilian runs NATO, but the US and its military hold power The United States is NATO's most powerful member. It spends much more on defence than any other ally and far outweighs its partners in terms of military muscle. Washington has traditionally driven the agenda but has stepped back under Trump.

      The US nuclear arsenal provides strategic deterrence against would-be adversaries.

      NATO's day-to-day work is led by Rutte, a former Dutch prime minister.

      As its top civilian official, he chairs almost weekly meetings of ambassadors in the North Atlantic Council at its Brussels headquarters. He chairs other “NACs” at ministerial and leader levels. Rutte runs NATO headquarters, trying to foster consensus and to speak on behalf of all members.

      NATO's military headquarters is based nearby in Mons, Belgium. It is always run by a top U.S. officer.

      Ukraine's role at the summit is unclear With Trump demanding greater defence spending, it's unclear what role Ukraine will play at the summit. Zelenskyy has been invited, but it's unclear whether he will have a seat at NATO's table, although he may take part in Tuesday's dinner. Russia's war in Ukraine usually dominates such meetings.

      More broadly, NATO itself is not arming Ukraine. As an organisation, it possesses no weapons of any kind. Collectively, it provides only non-lethal support — fuel, combat rations, medical supplies, body armor, and equipment to counter drones or mines.

      But individually, members do send arms. European allies provided 60% of the military support that Ukraine received in 2024. NATO coordinates those weapons deliveries via a hub on the Polish border and helps organize training for Ukrainian troops.

      NATO's troop plans A key part of the commitment for allies to defend one another is to deter Russia, or any other adversary, from attacking in the first place. Finland and Sweden joined NATO recently because of this concern.

      Under NATO's new military plans, 300,000 military personnel would be deployed within 30 days to counter any attack, whether it be on land, at sea, by air or in cyberspace. But experts doubt whether the allies could muster the troop numbers.

      It's not just about troop and equipment numbers. An adversary would be less likely to challenge NATO if it thought the allies would use the forces it controls. Trump's threats against US allies — including imposing tariffs on them — has weakened that deterrence.

      The US is carrying the biggest military burden Due to high US defence spending over many years, the American armed forces have more personnel and superior weapons but also significant transportation and logistics assets.

      Other allies are starting to spend more, though. After years of cuts, NATO members committed to ramp up their national defence budgets in 2014 when Russia illegally annexed Ukraine's Crimean Peninsula.

      After Russia's full-scale invasion of Ukraine in 2022, the NATO allies agreed to make 2% of GDP the minimum spending level. Last year, 22 countries were expected to hit that target, up from only three a decade ago.

      In The Hague, the allies were expected to up the ante to 3.5%, plus a further 1.5% for things like improving roads, bridges, ports and airfields or preparing societies to deal with future conflicts. Whether they will now remains an open question. (AP) NSA NSA

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